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China's Geely to own Volvo technology: report
Beijing (AFP) Nov 27, 2009 Chinese auto group Geely said Friday it has reached an agreement with US auto giant Ford on intellectual property rights in its bid for Volvo Cars, Dow Jones Newswires reported. Zhejiang Geely Holding Group said it will own the intellectual property rights to Volvo's key technologies, including those related to safety and the environment, through its purchase of the loss-making auto maker. Ford said in October it had tapped Geely as the preferred bidder for its Volvo Cars nameplate and would step up negotiations with a consortium led by the Chinese automaker. Share This Article With Planet Earth
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Saab's road ahead leads to shutdown -- or Chinese rescueStockholm (AFP) Nov 26, 2009 Sweden is bracing for the end of an era as General Motors' failed bid to sell iconic carmaker Saab means the Swedish group will likely close, leaving thousands of layoffs in its wake unless a Chinese rescuer steps in to save the day. Koenigsegg, a niche sportscar maker that rolls out 18 luxury cars a year, stunned the automotive industry Tuesday when it announced it was abandoning its bid to ... read more |
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